Thoughts on buying a house on corner block

[a.norton]

Hi, my partner and I are currently looking to buy our first home :confused:, and have found a really great house on a corner block :) It has a huge yard, and an awesome kitchen which is really selling it for us. We are just wondering about resale value in 5-8years. There are lots of similar houses in the area and all priced exactly the same. Do you think that if the different houses are the same price now, that when there is a boom in the area, then the value will stay similar in comparison with the others in the area? What are your experiences with corner blocks as far as valuations are concerned? We can see absolutely nothing wrong otherwise. We are planning on doing a little bit of work to it, as I am an interior designer and that way, we can make quick equity to buy our second home. Any suggestions will be very much appreciated :thumbs:

[kincella]

Sounds like a corner block problem ???? which I have never heard of...but since you are talking about QLD...who knows what they do up there...

I have properties on the Nsw/Vic border....and I love corner blocks.....
build another house on the back, but facing the street on the corner...then you have 2 homes...each with its own street frontage....I have done this a couple of times....its my preference....

however I only do it in the inner, close to the central CBD area...attractive to young professionals....and older people...its not for a family that needs a big backyard...
oh and the councils are happy so long as the new block meets the minimum area....

regarding the kitchen....whats the big deal about it....I would never buy a house due to one room..eg the kitchen....you can change any kitchen for probably around 10,000 - 15,000 or far less....
over to you now

[bluelabel]

also remeber corner blocks attract double the civil works bill if that needs to happen. If footpaths needs repairing or laying then you pay for two cause you have two frontages, same with roads, pipes, etc. but dont let that turn you off.

i had this convo last night at a party with a few people and another thing someone bought up was corners are great for burn outs and hoons!!

however i never thought about kincella's suggestion about diving up the block with two houses on two fronts, thats a great idea. Your an ideas man!

that is a major consideration in buying the block. Depending on your lifestyle choices now and in the future, you can live there do it up, after a few years divie the block and move on after sale or renting.

Keep us informed mr.norton

:bier:

[kincella]

bluelabel,
I have always lived on a corner block..except my stint here in Melbourne, and I never had a problem with extra expense for the footpaths etc.
In fact corner blocks are so popular with many of us , for the sole reason of splitting them up for the 2nd house...but it needs to be over 900 as the minimum split in Albury is 450 each. We are the mini developers....small projects that we can handle...banks have been easy enough with this style to fund it, without too much fuss
cheers

[Booz]

Hi Kinchella,

I have a corner block in Hervey Bay: over 1000m. The house is fairly close to the road so I should be able to build another property fairly easily later down the track.

BTW, I won't be posting on HC anymore, it really has become a waste of time IMO.

Cheers,

Booz

[kincella]

Hi Booz, quite a few of the good posters are like you...lord elpus, warnie, nttg, the list goes on...
they cannot be bothered with the rubbish from the other ones...
I got sick of doing a tou....with all the personal attacks against me...
it quietened down after redmond was suspended...but I think its him again as depth...whatever...only one I know that posts every two minutes...like pennyo

back to the corner blocks...love them...hoping to find another one this year, just a tiny garden in front, and paved entertaining at the rear, big open kitchen, living, dining area....cause thats what the young professionals like and so to the oldies...who do not want a big garden to look after...but can entertain loads of friends
hope you come back here more often...and this site gets going
cheers

[jbocker]

Old thread but I will add my thoughts. I have purchased properties and nearly all of them are corners, and it has been more by chance, it has become the family joke.

Corners are percieved to have a problem if one the roads is busy and this can affect values, and yeah they do attract a rare hoon element, but so do steep streets. I have lived in our house (corner) for 29 years and have rarely had trouble. Going to move into a townhouse in the CBD (corner again), lots of traffic, but am not worried going to double glaze and best part - walk 4 mins to work.

Corner blocks are great for subdivision with 2 street frontages, so can be worth more, and are usually larger. I see a comment on increased costs for services. Well, I have NEVER experienced that with any of the corner properties (Melb or Perth) or any other for that matter. Only thing I can think of if an area was to become deep sewered or power put underground (or was newly subdivided etc).

Some blocks can have a side entrance for rear yard access too.